In the other semifinal draw made after Chiefs defeated Mamelodi Sundowns 1-0 at Atteridgeville's Super Stadium on Sunday, Ajax Cape Town will face AmaZulu.
The final venues and dates of the two semifinals will be released by the Premier Soccer League on Monday and will be played over the Easter Weekend.
But Chiefs coach Vladimir Vermezovic was happy with the draw. “It will be fantastic for the fans. We are happy to play Pirates. They know us and we know them well. But in the end it is the supporters who will score.”
Pirates coach Ruud Krol attended Sunday's match and draw and must have been impressed by the way Chiefs brushed aside the powderpuff Sundown much more convincingly that the 1-0 score line suggests.
Bucs defeated Jomo Cosmos 2-1 at the Rand Stadium on Saturday night to reach the last four.
Ajax edged out Golden Arrows 2-1 at Newlands on Sunday while Usuthu defeated SuperSport United 4-1 on penalties on Saturday after the teams were level 2-2 after extra time.